Aug 27 (Reuters) - Top asset manager BlackRock ( BLK )

on Wednesday pushed back against pressure from U.S. Republican

and Democratic officials, saying both sides have injected

politics into the running of retirement assets and it only seeks

to fulfill its fiduciary duties to clients.

The message isn't new but it came in an unusual memo the

company sent to 43 state treasurers, auditors and other

officials of both major political parties, seen by Reuters.

In late July, 26 Republicans signed on to a letter

questioning if BlackRock ( BLK ) paid too much attention to matters like

climate change, while this month 17 Democrats responded with

their own note describing climate change among the "unmanaged

risks" that deserve more investor focus.

BlackRock's ( BLK ) head of state and local government affairs, S.

Jane Moffat, told all of them that their letters "continue a

concerning trend by both parties of politicizing the management

of public pension funds."

She cited the company's proxy voting policies and said many

clients value having it as an engaged shareholder. "At the same

time, BlackRock ( BLK ) is not an activist investor," she wrote, and

said studies show political constraints on pension funds cost

them money or cut their returns.

BlackRock's ( BLK ) $12.5 trillion under management gives it much

influence on matters like corporate director elections and

environmental or social resolutions.

After a period backing many environmental and social

activists, BlackRock ( BLK ) pulled back its support of them to just 4%

of the time last year and likely a similarly low level in 2025.

The company has not yet released full voting statistics, while

rival Vanguard recently said it supported none of 261

environmental and social resolutions in the U.S. this year.

BlackRock's ( BLK ) changes have ended some, but not all, of the

criticism it has taken from conservative politicians. Meanwhile,

various Democratic officials want BlackRock ( BLK ) to take a more

activist stance and have threatened to move their own money

away.